Small-time gambler Salty O'Rourke (Alan Ladd) needs money fast to pay off a debt to gangster Doc Baxter (Bruce Cabot) so he buys a racehorse named Whipper to see if he can turn it into an instant winner. He gets it cheap, though, and the only one who believes in it is banned jockey Johnny Cates (Stanley Clements) who has to take an assumed identity in order to ride. Then, when the men both fall for schoolteacher Barbara Brooks (Gail Russell) things get complicated - dangerously so.
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